The curtain appears to be going up on a cinema price war after Vue has slashed the cost of tickets to just £4.99 for the whole of 2018.

The chain located in Plymouth, which also has a multiplex in Exeter, has knocked up to 50 per cent off the cost of tickets, putting them back to 1990s levels – and making a visit to Vue the cheapest movie excursion in Plymouth.

The chain, which is about to face stiff competition in the city from the under-construction £53million Bretonside leisure complex, is not giving a reason for the sudden price reduction, which is for all age groups, and described by the firm as “quite a substantial drop”, reports the Plymouth Herald.

Read More

But it comes as the chain revealed a trading loss of £92.8milion - the fifth year in succession it has made a deficit.

The company is also facing competition from non-cinema entertainment, such as the relentless rise of Netflix and Amazon.

Vue said, however, the price drop was to coincide with the release of Avengers: Infinity War, and the forthcoming blockbusters Life of the Party, the latest instalment of the Star Wars franchise Solo: A Star Wars Story and the return of superhero Deadpool 2.

James Ashcroft, general manager for Vue Plymouth, said: “We’re excited to offer our guests the opportunity to enjoy the best in big screen entertainment for just £4.99 a ticket.

“There’s some fantastic films to see in 2018 and we look forward to welcoming people to enjoy them.”

Price wars – how cinema tickets compare

Vue has slashed ticket prices to just £4.99 for all age groups for the whole of 2018.

That’s a reduction on a range of tariffs from £8 to £10.

But what about its competitors?

At Reel Cinemas, which has a multiscreen at Derry’s Cross, a standard adult tickets costs £6.20, students get in for £5.30, teens for £5 and children and pensioners for £4.70.

At Plymouth Arts Centre tickets are £9, or for concessions £7.75 with a new £4 for under-25s.

Plymouth’s Cineworld will open in late 2019 but tickets at other outlets are currently £8.70 to £11.50 for adults, and for seniors and students £6.30 to £10.25.

Plymouth is bracing itself for a battle of the cinemas as Vue is about to go head-to-head with the city’s new IMAX multiplex.

Vue, which in 2003 bought up the Warner Village portfolio and took over the Barbican Leisure Park multi-screen, has enjoyed a competition-free time in Plymouth, with only the much smaller Reel Cinema and the tiny Arts Centre for company.

But with Cineworld due to open a 12-screen multiplex in the £48million Bretonside Drake Circus Leisure development Vue will undoubtedly feel the pinch.

Read More

Vue International has 1,904 screens, 15 of which are in Plymouth, in 10 countries.

It has just revealed its results for the three months to February 28, 2018, showing a “good performance” and a five-year record for UK admissions.

Turnover was up 4.1 per cent to £246.3million.

However, Vue has also just published its annual report and financial statement for the year ended November 30, 2017, which shows a pre-tax loss of £92.759million.

Vue v Cineworld - the movies that are key for 2018

Cinema chain Vue rightly points out that it is the quality of movies produced that drives its admissions and therefore revenue and profitability.

Its annual report highlights the "inherent reliance" on US studios in particular.

But is has also cosied up to European producers as a "hedging mechanism" in case Hollywood loses its glitter with audiences.

It also highlights the "competitive marketplace" and stresses the continual need to improve the customer experience.

But both Vue and its main competitor Cineworld are banking on Strong, mostly US, movies attracting punters in 2018.

Vue said there is a "strong slate" for the rest of the year including Avengers: Infinity War, Mama Mia! Here We Go Again, and the latest JK Rowling flim The Crimes of Grindlewald.

Vue stressed how much the "Hollywood slate" will be "extremely attractive" for audiences.

It is expecting Jurassic World: the Fallen Kingdom, Ant Man and the Wasp, the animated sequel to The Incredibles, and the next Star Wars space opera Solo, to do the business.

Cineworld is also banking on these titles and its latest statement said the firm was pleased with the start of 2018 and encouraged by the titles yet to come, name-checking the Jurassic World, Fantastic Beasts, Avengers and Star Wars sagas , and adding Deadpool 2, and Fifty Shades Freed as sequels to watch out for.

The company said: "We look forward to another year of growth."

In 2016 the company made a loss of £103.362million.

The company, owned by ex-Hollywood big shot Tim Richards, blamed high interest costs for its losses.

Admissions for the UK and Ireland were up 0.3 per cent to 187million punters in 2017, with Rogue One: a Star Wars Story, La La Land, Guardians of the Galaxy 2 and It among the titles packing them in.

Cineworld, however, reported a turnover of £890.7million for 2017, up 11.6 per cent, and a before tax profit of £120.5million, up a staggering 22.7 per cent.